WTO slashes 2023 global trade growth forecast

Global trade is now expected to grow by only 0.8 percent this year — less than half of the growth that had been projected in April, the World Trade Organization announced Thursday.

“A continued slump in goods trade that began in the fourth quarter of 2022 has led WTO economists to scale back their trade projections for the current year while maintaining a more positive outlook for 2024,” the global trade body said.

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